Cartier's Quebec Gold Project Boasts Improved Economics

Cartier Resources has published an updated preliminary economic assessment (PEA) for its Cadillac gold project in Quebec, Canada. The new study estimates initial capital of nearly $276 million and proposes a mine life of 16.2 years, producing an average of 100,000 oz of gold annually.

The PEA replaces the 2023 estimate, which envisioned a smaller operation with higher-grade production. Cartier has opted for a fully underground mining approach, minimizing surface footprint and supporting responsible development.

At a base-case gold price of $3,600 per ounce, the project would generate after-tax free cash flow of $2.77 billion. Sensitivity analysis suggests that even at $3,000 gold, the project would still yield an after-tax NPV of $497 million and IRR of 16%.

The Cadillac Fault hosts a significant gold deposit, with Cartier's December resource estimate showing 10 million measured and indicated tonnes grading 2.4 grams per tonne for 767,800 oz, plus inferred resources adding 35.2 million tonnes at 2.14 grams for 2.42 million ounces.